JPMorgan Chase & Co. Increases Copart (NASDAQ:CPRT) Price Target to $60.00

Copart (NASDAQ:CPRT) had its target price hoisted by JPMorgan Chase & Co. from $55.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.26% from the stock’s current price.

Separately, Robert W. Baird decreased their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Stock Down 1.9 %

NASDAQ CPRT opened at $55.42 on Tuesday. The business has a 50 day moving average price of $53.39 and a 200-day moving average price of $53.14. Copart has a 52 week low of $46.21 and a 52 week high of $58.58. The company has a market cap of $53.39 billion, a price-to-earnings ratio of 39.87 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts anticipate that Copart will post 1.54 earnings per share for the current year.

Institutional Trading of Copart

Institutional investors and hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new position in Copart in the first quarter valued at $644,000. O Shaughnessy Asset Management LLC raised its holdings in Copart by 8.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 72,083 shares of the business services provider’s stock worth $4,175,000 after purchasing an additional 5,445 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Copart by 10.3% during the first quarter. Lake Street Advisors Group LLC now owns 9,923 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 930 shares during the last quarter. Pitcairn Co. increased its holdings in shares of Copart by 24.5% during the first quarter. Pitcairn Co. now owns 10,889 shares of the business services provider’s stock valued at $631,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Fayez Sarofim & Co purchased a new position in Copart in the first quarter worth about $216,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.